What is a Fannie Mae HomeStyle Conventional Loan?
A Fannie Mae HomeStyle Conventional Loan is perfect for buyers and home owners wishing to obtain a renovation loan for their primary 1-4 unit home, vacation home, or single-unit investment property. It will allow you to update with luxury items during the renovation process and finance it all with one loan. This type of loan also has higher loan limits then FHA 203K to allow owners to get what they really want.
Already have a renovated property? Allow us to refinance your loan as interest rates decrease. Your payments and the total amount of interest paid can be greatly reduced.
How It Works
- Contact us to get started and to be pre-approved.
- Find your new home or refinance your current property.
- Our construction consultant will inspect the home to outline repairs for general contractors to bid on.
- When you’ve selected a contractor, we’ll make sure they’re up to the job.
- The property is appraised for its “After Renovated Value” (ARV).
- We will process and underwrite your loan application.
- The loan is closed, and your renovation work begins!
Our team can talk with you more about a Fannie Mae HomeStyle Conventional Loan. Just contact us!